Study shows those without an advisor are not confident they have it right
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![Steve Randall](https://cdn-res.keymedia.com/cdn-cgi/image/f=auto/https://cdn-res.keymedia.com/cms/images/ca/100/0311_637073080252507882.png)
Balancing current spending with long-term saving goals is easier with a financial advisor according to a new survey.
American financial services firm Northwest Mutual’s survey by Harris Poll asked adults in the general population about their financial goals and how working with a financial advisor can help.
More than two thirds of respondents with an advisor said they have clarity on how much they spend now against how much they save; for those without an advisor just 44% said so.
The findings show that those without an advisor are almost three times as likely (34% vs 13%) to say they are “not at all confident” that they have the right balance between spending and saving – and are also more likely to say debt reduction is a priority.
FAs make clients feel more financially secure
More than half of respondents said that working with an advisor makes them feel financially secure – just 21% of those without an FA said they feel financially secure.
Working with an advisor also makes three quarters feel that they are disciplined or highly disciplined financial planners compared to 37% of those without an advisor.
More than 7 in 10 people with an advisor said their plan has been created to endure market cycles --- compared to less than a third of those without an advisor (29%).